The marine dynamic positioning system market size is expected to see rapid growth in the next few years. It will grow to $7 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to increase in number of dynamic position ships such as survey and research vessels, growing need for renewable energy, increasing demand for unmanned surface vehicles, rising maritime transportation, and increasing focus on safety. Major trends in the forecast period include advancements in offshore drilling technology, technological developments, autonomous operations, cloud connectivity, and machine learning algorithms.
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Segmentation & Regional Insights
The marine dynamic positioning system market covered in this report is segmented –
1) By Type: Thruster Systems, Dynamic Positioning (DP) Control Systems, Sensors, Power Systems
2) By Application: Station Keeping, Maneuverability And Navigation, Dynamic Positioning Autonomy
3) By End-User Industry: Oil And Gas, Renewable Energy, Research And Survey
Asia-Pacific was the largest region in the marine dynamic positioning system market in 2023. The regions covered in the marine dynamic positioning system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa
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Major Driver Impacting Market Growth
The growth in offshore construction activities is expected to propel the development of the marine dynamic positioning system market going forward. Offshore construction activities refer to the various operations and projects in bodies of water, typically in the ocean, for building, installing, or maintaining structures such as oil platforms, pipelines, bridges, and other marine infrastructure. The growth in offshore construction activities is driven by expanding renewable energy initiatives and technological advancements enabling complex projects in deeper waters. Dynamic positioning (DP) systems provide flexibility in maneuvering vessels and equipment, allowing them to work in various locations and conditions without needing fixed anchor points. They also enable vessels to maintain a safe distance from offshore structures and other vessels, minimizing the potential for collisions or damage. For instance, in August 2023, according to reports published by the Office of Energy Efficiency and Renewable Energy, a US-based government, offshore wind pipelines in 2022 will reach 40,083 megawatts (MW), which is an increase of 13.5% compared to the previous year. Therefore, the growth in offshore construction activities is driving the development of the marine dynamic positioning system market.
Key Industry Players
Major companies operating in the marine dynamic positioning system market are General Electric Company, The Volvo Group, General Dynamics Corporation, Siemens Energy AG, ABB Ltd., L3Harris Technologies Inc., Rolls-Royce plc, Wärtsilä Corporation, Kongsberg Gruppen ASA, Japan Radio Company (JRC), Mercury System Inc., Norr Systems Hydraulics Pte. Ltd., RH Marine Corp., Grid Dynamics Holdings Inc. , AquaTech India Pvt. Ltd., Thrustmaster of Texas Inc., Master Boat Builders Inc., Praxis Automation Technology B.V., AquaGuard Positioning, C-MAR Group, Navis Engineering Oyj, BlueWave Products Inc., Vision Marine Technologies LLC, Seaquest Marine Resources Private Limited, SeaNav Technologies Pvt. Ltd., Reygar Ltd.
The marine dynamic positioning system market report table of contents includes:
1. Executive Summary
2. Marine Dynamic Positioning System Market Characteristics
3. Marine Dynamic Positioning System Market Trends And Strategies
4. Marine Dynamic Positioning System Market - Macro Economic Scenario
5. Global Marine Dynamic Positioning System Market Size and Growth
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31. Marine Dynamic Positioning System Market Other Major And Innovative Companies
32. Global Marine Dynamic Positioning System Market Competitive Benchmarking
33. Global Marine Dynamic Positioning System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Marine Dynamic Positioning System Market
35. Marine Dynamic Positioning System Market Future Outlook and Potential Analysis
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